There are numerous formats of course, they each must satisfy the local legislation to be valid.
It’s a legal letter with strict legal requirements. Otherwise it’s invalid, and can be later challenged, and in the event of a successful challenge, you may have to repay the amount of “invalid” rent increase for however long you’ve been charging it. Here’s the format I used to satisfy legislation in NSW. It’s just factual and makes no attempt to soften the arrival of a rent increase.

Date : 12 th June 2004
To : John & Mary Smith
Mailing Address : 27 Green St Taranaki
Premises : 27 Green St Taranaki
Re : Notification of Rent Increase.
You are hereby notified that the rent on the abovementioned premises you occupy will be increased to $250.00 per week effective from the date of 16 th August 2004 in line with current market levels. This provides more than the required 60 days notice, and coincides with your usual rent payment cycle of Mondays.
The last rent increase was on 14 th January 2003.
Please contact us immediately if you have any queries.
Yours faithfully
Joe Bloe
Joe Bloe Real Estate

checkout OSR website or ring htem – Office of State Revenue.
cheers
thecrest

s’pose these details should all be in your members stats, but the extra comments are nice, forums can be cold. i sacrificed all the excitement of a PM rent roll of 170 properties for a motel, good deal.
cheers
thecrest

Been a PM in NSW, not much fun sometimes. Declining tenancy applications is a perilous activity and should be handled with care. PM’s don’t have to give a reason why an application is declined, so they don’t.
Lease clauses are contentious and the Residential Tenancies Act doesn’t support some of them.
e.g. “tenant must get carpet professionally cleaned upon vacating” – not supported, however, “tenant must leave premises in the same state as when moving in, except for fair wear & tear”, is supported. So, condition report should mention that the carpets were professsionally cleaned before the tenant moved in, and then mention in additional clauses that the tenant must do the same on departure, then you stand a chance.
Ask the prospective PM for a copy of the “usual” additional clauses landlords are now using.
Re the unpaid rent fee – grasping smoke here, if you can’t collect the rent you can’t collect a late fee, and it’s most likely their tenancy act is also weighted in favour of the tenant, like NSW.Also, any move to amend legislation for a late fee on rent would attract a proposed amendment for a late fee (read rent reduction) on repairs and maintenance levied on landlords. Tribunals can already so order, but at their discretion, not arbitrary.
KISS method works in most cases. Best way to avoid rent arrears which are the most infuriating nuisance, is to buy good properties, charge fair rent, repair and maintain like greased lightning, and SELECT GOOD TENANTS because they’re the people PM has to deal with. Crap begets crap.
there’s a blunt and tactless 2 cents worth, but it’s from the front line.
good luck
thecrest

PM looks pretty lame. Request from the agent immediate copies of the following documents in the agent’s possession:
lease copy being used by the agent
rent record
all correspondence with the tenant
ingoing & outgoing inspection reports
managing agency agreement they are using
all bond forms used
all periodic inspection reports.
Doesn’t matter if you already have copies, you want copies of what they have and are using to “manage your property”.
After you have the documents, or 2 weeks later whichever comes first, send a letter of demand to the agent for compensation for your losses, but only those which the agent could and should have prevented. At the same time, apply to the Tribunal for a hearing to receive a judgement and compensation from the tenant, and from the PM. Include a copy in your letter of demand to the PM. They then have about 2 weeks to settle with you before a hearing. Don’t budge an inch, don’t be greedy, go through to the finish, they will not.cheers
thecrest

Hope this data helps someone.
St George. Commercial loan for purchase of motel. 7.42% P&I 10 years with LOC 7.92%. Actual LVR 54% , limit of 60%. No entry fees. $600 p.a. a/c fees, $350 break cost. Had to pay commercial int rates unfortunately. Wish I had known before that if you use res prop as security to buy commercial, you get res loan rates. I keep thinking the incline on the learning curve is reducing until I can see more curve.
good luck
cheers
thecrest

As a former PM, I have to agree with those who motivate the PM. They are the key to it all. I expect tenants to abide by the lease, it’s a business deal. I expect property owners to abide by their responsibilities too, otherwise I hand them back the property and the management because I don’t want to be sued by a tenant. So, best target is both parties abide by the lease, tenant pays rent on time and looks after the property, while landlord provides fast service on repairs and maintenance. hope you got a good PM and good tenants. cheers
thecrest

Trojanhunter is good, free trial offer is also useful. Symantec.com.au site has a free scan service for viruses & trojans.
cheers
crest133

Been a PM myself, not the greatest job in the world, but IMHO definately the fastest hardest school there is. Suggest you ask for the complete file on all matters relating to the property and the current tenants, including all correspondence to and from, maintenance done, repairs, yes rent record already mentioned is a must, and ask the PM for an opinion of the property as a rental, pros & cons, suggestions etc. might help to get a feel for the PM’s management style. You already know it’s not practical to manage it at a distance yourself, so crank up the PM, get them onside and hope they’ve got the skills. If not, find another one.
good luck [biggrin]
cheers
thecrest

Hi all, I’m new on your forum. It looks like debate is alive and well here, and that’s a healthy sign. I appreciate the opportunity to be here on your forum, to access info and hopefully to provide some when appropriate. If I’m lucky, might even meet some interesting people as well.I’ve been a PM and now operate a motel. Looking for another cf+ investment. Don’t think you need worry about declining numbers, quality beats quantity, and it looks a great forum to me. Cheers
thecrest [biggrin]